Industry urges government to offer 10-15 years to telcos for AGR dues settlement

As per the Cellular Operators Association of India (COAI), the government should provide 10-15 year payment schedule to telecom companies to pay their past Adjusted Gross Revenue (AGR) dues.

Further, COAI added that the government should provide a two-year moratorium and an interest rate at interbank borrowing rate levels that is at around 4-5 per cent to the telcos. Further, telcos could make the upfront payment of about 15 per cent, which is equivalent of the principle AGR amounts.

The suggested payment schedule would offer the much-needed reprieve to telcos whose combined liabilities after the recent AGR verdict is huge, as per the industry body.